Legal Question in Real Estate Law in California
My daughter and her husband and I purchased a property. I was on the purchase and loan documents to assist in qualifing for the mortgage, so I am on the deed. However, my son put cash into the purchase, but was not on the loan documents because he didn't have a good credit rating at the time. We need to add him to the deed as he assisted with funds for the purchase. What type of deed do we need. He and I would hold as joint tenants with equal shares; and his sister & husband are joint tenants, but we would be tenants in common with them. Kind of complicated.
1 Answer from Attorneys
I strongly encourage you to consult with an attorney in your area, or at the very least, consult with a title company about the proper form of deed. You may also wish to obtain title insurance for the transfer to ensure that title is transferred in the manner you expect. The form of deed can be one of several, and again a title company is best suited to tell you what will accomplish your goals. As for how to word your vesting, that you need to review with local counsel and or perhaps the title company will help you properly word the vesting.
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